TRON 4.0 Online Conference: Panel Discussion on TRON 4.0: A New Vision for Blockchain Media

>> Irene: Hello, everyone. I’m Irene, partner of 499 Block & Roark. The priority is to offer friendly user experience. The practical tools are important. Business level block be chain applications hold the actual key to the future. How do we attract more mainstreams and corporate users. Coming next, we’ll have a panel featuring Angela Tong, and she’s sitting next to me. She’s partner of Jinse Finance. And Kevin, co-founder of Consensus Lab. Eason, VP of Bishijie international business and Coinness CEO. Tianyu, CEO of TEMZ. We’re having a topic, a new vision for Blockchain media and business level application for Blockchain technology. So now we can go to the first question.

>> Irene: The future direction and application of blockchain are echoed in the upgrade of TRON 4.0, which ranges from the underlying technology to community ecosystem, from DeFi project to business-level one-click blockchain deployment, from entertainment to practical tools. From media insiders’ standpoint, how will blockchain technologies be applied to traditional industries or even our day-to-day life?

We can go first from Angela.

>> Angela: Thank you! We have all experienced the internet era and the progress of the entire internet era almost represents the muted relations of the product in terms of user’s experience and user’s demand. So Blockchain industry is the same, I think. Only the real marketing Blockchain will survive. So first of all, Blockchain products must have see the core need of users, story teller does not work well, you know. And second, how to truly combat the brand of Blockchain concept with business logic and factual business? This circle is long and there are many uncertain factors. So we should not only focus on how to get quick returns from the Blockchain, we will see how to, like, the long term return. So the third is how to realize the successes of blockchain. So to break the circle of Blockchain, the batteries need to be loaded. That’s my answer. Thank you.

>> Irene: Wonderful answer. The next answer is Kevin. You’re the next one.

>> Kevin: Thank you. Hello, everyone. I think regarding the question the combination of blockchain and traditional industry is well known. Such as anti-counterfeiting, source tracing, IOT, etc, which are more and more real applications for daily life. For most of the small and medium sized enterprise owners, not to mention the building Blockchain. Just the concept has been incurred and it’s already confusing to them. So there’s still a great distance from the coverage of traditional industry. In the web 1.0 era, the rapid development of the internet users, ecology comes from the improvement of the browser, user experience.

So the circle breaking through of Blockchain also needs to be convenient and easy use solution to make the Blockchain sounds less daunting. So it can be seen that the business level, one-click Blockchain deployment which launched right now by TRON 4.0 provides enterprise users with a set of solutions for the rapid chain building which is good.

Developers can customize developments according to their own business scenarios. So development will greatly reduce the barriers and development cost of enterprise application Blockchain.

So I think it will let the Blockchain from virtual to real and benefit the industry which is TRON active exploration of the role of exploring Blockchain industry itself, yeah. Thank you.

>> Irene: Okay, next go to the next one, Eason.

>> Eason: Hi, everyone! Thank you for having me here.

I think the massive adoption of Blockchain is up to whether there are some killer applications with millions active users. In my opinion, there are potential areas could be shaped by blockchain. One thing is the combination between blockchain and AI. We knew that machine learning is based on massive data exchange. However, every company or person could not be in possession of huge amount of data. Besides, people were very cautious to share their data. With the introduction of blockchain, we could have a large scale of collaboration. The blockchain technology could benefit privacy protection, machine learning and artificial intelligence, and I really look forward to some massive adoption starting from the artificial intelligence area.

>> Irene: Thanks, Eason, Tianyu, you’re next.

>> Tianyu Yang: Thanks for having me today. For how well Blockchain can cover traditional industries, I think I have almost 4 points I want to share with everyone here.

I think point one is definitely traditional industries were corporations need to learn and try to understand what is Blockchain.

If we want traditional industries to be covered by Blockchain industry, those traditional industries, companies — need to pay attention and learn the concepts about what is Blockchain, what is cryptocurrency, how can we benefit from the global Blockchain revolution and try to understand how Blockchain technology can help us to improve the efficiency and productivity, right?

And how to connect our business with Blockchain. Understanding Blockchain is the first step for traditional industry to touch this technology. This is point one.

Point two, I would say case studies is the core. As we all know in Blockchain success, case studies are still too few. Most of the Blockchain application scenarios comes from the finance industry which Blockchain is good at. Even in the finance area, use cases are still too few. If we want more traditional industries start to welcome Blockchain technology, that means we need to create more use cases and show that Blockchain technology can really make a huge change.

Point three, is about more professional consulting agencies are needed. There are very few Blockchain technology consulting companies which like there are three at this moment. In this market, understanding Blockchain at the same time can really catch up the pain point of the traditional industries. This kind of teams are too less. So most of the traditional industries want to welcome and also insert Blockchain technology but they don’t know how. What is the process?

So this moment in professional Blockchain technology consulting team is very important and it’s also going to be a key for them.

And the last point is try to make the cost lower. We all know if we want to add Blockchain on our business model, they have to pay a lot for the cost. We need to bring the Blockchain applications to the next level, where fully-functioning hardware and software are both available.

The one-to-one implementation model is good, but it comes with a very high cost. We need to see more one-to-many integration cases like SaaS to lower the tech integration cost. So regarding how Blockchain technology covers everyone’s daily life, I personally feel that it may take a long time to reach this stage. But if the Blockchain knowledge is mature enough, in fact, it can exist as intangible as the internet, in all aspects of daily life, there’s no need for people to discuss what Blockchain is anymore, just like no one is discussing what is internet today, right?

Because it’s already reflected in people’s daily life so this is pretty much my answer for this question.

>> Irene: As blockchain technology is applied in a variety of industries, many have turned their eyes to “blockchain social networking”, hoping to find a better alternative to safeguard their data while enjoying the blockchain-based social networking. What are some of the flaws of traditional social media platforms? Is there any product that perfectly integrates blockchain technology with digital media? What are some other areas that are in desperate need of the edge offered by blockchain technologies?

Angela, would you like to go first?

>> Angela: Yes, thank you so much! There’s many pain points in traditional social media such as users data privacy security, can now guarantee and users’ data rights cannot be maintained. I would say there’s no decentralized social social platform with a large user mass. So however, in this area Steemit, QunQun and other platforms deserve your focus.

In addition, when it comes to the feature, there will be an area where products needs to be integrated with Blockchain technology. I think this is an one-to-end field expansion so this is exciting that in the next five years, the industry will be dominated by the financial industry and gradually will go into other real industries including entertainment, commodity traceability and credit. Thank you!

>> Irene: Thanks, Angela. Hey, Kevin, would you like to go next?

>> Kevin: Sure, thank you! As Angela just mentioned, the pain points of social media are embodied in the severity of personal information and the privacy protection. So the super social platform monopolized as internet traffic and technology innovation and grabs high profits. At the same time, due to user’s privacy and data stored on the centralized server, data monopoly and privacy issue emerges cannot be solved.

So this centralized system with unbalanced resource allocation and frequent loopholes is difficult to maintain for a long time. So as far as the current situation is concerned, in addition to using Blockchain technology to realize the so called less trust, more truth. So there is no better solution than Blockchain, I mean.

So in fact, the application of anti-counterfeiting and tracing to the source are not where advanced blockchain technology can be given full play. So what can really make the Blockchain play a role is an integration of Blockchain and the internet. It’s like combined together.

So through the financial attributes of Blockchain, the business model of the internet products can be complimented and the reasonable distribution of data value and traffic.

This benefit can be realized. So the emergence of the internet has greatly improved the product efficiency so by adding, for example, high-technology like 5G, AI and other technologies, the perfect combination of Blockchain and the internet will achieve the existing social emphasis. So the Blockchain technology will also become a very important part of the future commercial society. Yeah, thank you!

>> Irene: Thank you, Kevin. Next one will be Eason.

>> Eason: Thank you, I would like to continue the discussion from the standpoint of monetization. I think any media with monetization model of advertising should consider the use of blockchain. The marketplace for online advertising is dominated by the platform. Users don’t benefit from the advertising dollars generated by their own behavior. I have already seen that some projects such as BAT tend to shift the situation.

Let’s take a look at some media platforms, take tiktok for emample, most of the creators do not benefit from the advertising dollars generated from tiktok. They have to rely on some middle man to line them up with the advertisers and that’s why, tiktok introduced what is called the star map to solve the problem. But to be honest, the problem is still there. I think we have aggregate of Blockchain and creator, they can benefit from advertising directly. It’s like coding is law. Everything, and the technology and infrastructure should be improved and the people that benefit from the revenue. Yeah, that’s my answer.

>> Irene: Thanks, Eason! It looks like we only have a few minutes left so Tianyu, do you want to be the final one to answer the final question, thank you.

>> Tianyu: Sure, no problem. If we have enough time to talk about the traditional media problem, we will continue until next morning. But basically similar with Angela and Kevin and also Ethan’s idea. So here, we are talking about many problems of traditional media platform. Basically three. Number one is privacy. Everyone mentioned it already. The most acute problem for traditional social media problems such as Facebook and Twitter is still laggage and the abuse of user’s data one hundred percent.

As a user, we hate this part a lot! Number two is the bots and fake accounts. There’s many fake accounts on Facebook and Twitter. These fake accounts are actually doing a lot of scam activities to defraud the users.

Number three, is passive advertising problem. Passive advertising on traditional social platforms on Facebook has always been the ban of user experience, right? So if you ask me, is there any product that perfectly combine Blockchain and social media, my answer is no.

In my opinion, Blockchain media is still in the information giving stage. That’s not enough. But I believe today, also, the panelist, on the media panels, we are trying to explore how to connect media platforms with Blockchain technologies and use Blockchain technologies to make the media true.

Which area for the next Blockchain technology. I think we can just start from Blockchain media. This is a good area to give it a try. Yeah, that’s my answer.

>> Irene: Thanks for the answers. A big thanks for the heated discussion. Business application is a top attention in recent years. We hope more companies can join the research and spring the adoption of the business level applications. This will further help with the growth of the decentralized world and help create the ecosystems. Now I will pass the moderator role to Angela for the next section.

>> Angela: Thank you so much! Thank you for all of the panel guests. Thank you!